"... with the Philippines (8), Russia (10) and India (11) rated extreme risk and Nigeria (12) and Indonesia (28) considered high risk in the 'security risk category, politically motivated violence and terrorism must now be a primary concern for investors in these territories," the firm noted.

According to the report, despite good growth, India has a poor human rights record. Also large sections of the population lack access to basic social infrastructure such as education, healthcare and sanitation.

"This reduces the country's flexibility to global risks by creating a less productive workforce, a population susceptible to the spread of disease, and potential instability due to risk of social unrest," it said.

As per the report, four countries -- Somalia, Sudan, Afghanistan and DR Congo -- are in the extreme risk category. All these nations are characterised by weak governance, internal conflicts and regional instability, it added.